The checklist Warren Buffett-style investors use. Annual numbers for 2025.
3/5Mixed
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.18.2%
MissProfitable every yearSteady profits, not one good year.9 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$371.9M
PassShare count not growingNot diluting owners. Falling means buybacks.-2.2% in 3 years
MissGross margin 40%+Pricing power: sells for well above what it costs to make.37.7%
Revenue
$3.9B
+29.5% vs prior year
5-year growth
+14.3%/yr
revenue, per year
Total debt
$1.6B
Current ratio
1.63x
short-term assets / bills due
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+, debt under half of equity. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Jul 31
Revenue
$1.5B
+52.8% YoY
EPS
$1.32
vs $0.67
Op. margin
20.4%
+4.1 pts
Gross margin
37.9%
-0.7 pts
Free cash flow
$162.0M
Share count
+0.3%
vs a year ago
Insider rating
Last 90 days
No open-market insider buys or sells in the last 90 days.
Weekly insider trend
No trades to chart yet.
Filing buzz
Last 7 days vs normal
0/ 100
This week
0
Normal week
1.8
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Steady+0.3%
Institutions added 0.3% to their holdings. 542 bought, 346 sold.
Shares held by institutions147.4M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
-0.8%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
0.4x · $1.5B debt
Shares outstandingLatest reported
162M
Earnings reports
Last 12
Next reportIn 3 days (est.)Estimated from the same quarter last year
Results filedJul 31
Results filedMay 1
Results filedFeb 6
Results filedOct 31, 2025
Results filedAug 1, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days